EFFECTS OF CORONA VIRUS TO KENYA'S ECONOMY.
By Philip Ouma..
Corona virus is now estimated to have killed more than 1100 people and infected over 95000 People worldwide.World Health Organization (WHO) has now declared the Corona virus outbreak a global health emergency, expressing fears that smaller countries might be worst - hit by the outbreak because of poor preparation. Read more on; World Health Organization ( WHO) report on Corona virus.
A new study from the Overseas Development Institute shows that; Kenya's economy is the most Vulnerable in Africa to China's Corona virus outbreak.
The Study titled: Economic vulnerabilities to health pandemics: which countries are most vulnerable to the impact of Corona virus? Shows that Kenya is the sixth most vulnerable country in the world to Corona virus outbreak.
" Taking these indicators together, we present an overall vulnerability index: Sir Lanka, Philippines and Vietnam, followed by Kazakhstan , Kenya, Cambodia and Nepal, top this index as the most vulnerable Countries in economic terms", says the report.
Physical exposure vulnerability stems from the high risk of physical exposure due to Nairobi's transport hub status and the fact that it is one of the least prepared countries to deal with the virus.
It's now evident that Kenya's imports of electronics and surgical gears are currently struck in China because the suppliers have not returned from the new year celebrations due to travel restrictions.
Reports from the Moody's Vice president and senior Analyst says that the most immediate economic implications from the Corona virus outbreak will manifest through a fall in tourists arrivals from other countries and weaker export of goods to China and other economies integrated into the Chinese supply chain.
It's of great effect that Kenya's small businesses which imports merchandise from China to sell in Kenya will feel the effect due to shortage of stock.This means a downside risks to China's (A1 stable) growth forecast increase ,there will be reverberations for economies globally, given that it's the source of final demand.
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| Image:www.weartv.com |
Corona virus is now estimated to have killed more than 1100 people and infected over 95000 People worldwide.World Health Organization (WHO) has now declared the Corona virus outbreak a global health emergency, expressing fears that smaller countries might be worst - hit by the outbreak because of poor preparation. Read more on; World Health Organization ( WHO) report on Corona virus.
A new study from the Overseas Development Institute shows that; Kenya's economy is the most Vulnerable in Africa to China's Corona virus outbreak.
The Study titled: Economic vulnerabilities to health pandemics: which countries are most vulnerable to the impact of Corona virus? Shows that Kenya is the sixth most vulnerable country in the world to Corona virus outbreak.
" Taking these indicators together, we present an overall vulnerability index: Sir Lanka, Philippines and Vietnam, followed by Kazakhstan , Kenya, Cambodia and Nepal, top this index as the most vulnerable Countries in economic terms", says the report.
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| Image:www.nbcnews.com |
Physical exposure vulnerability stems from the high risk of physical exposure due to Nairobi's transport hub status and the fact that it is one of the least prepared countries to deal with the virus.
It's now evident that Kenya's imports of electronics and surgical gears are currently struck in China because the suppliers have not returned from the new year celebrations due to travel restrictions.
Reports from the Moody's Vice president and senior Analyst says that the most immediate economic implications from the Corona virus outbreak will manifest through a fall in tourists arrivals from other countries and weaker export of goods to China and other economies integrated into the Chinese supply chain.
It's of great effect that Kenya's small businesses which imports merchandise from China to sell in Kenya will feel the effect due to shortage of stock.This means a downside risks to China's (A1 stable) growth forecast increase ,there will be reverberations for economies globally, given that it's the source of final demand.
Thank you for reading My Story; Kindly provide your feedback by commenting on the space below.
# Your support is my strength.
It's true that the Corona virus affects Kenya's economy since it's the main source of our imports....Good researched article.
ReplyDeleteThank You!
DeleteThis information is based on personal research and other viable sources of information on Corona virus.
ReplyDeleteTrue it will very disadvantage to Kenya because we normally rely on the lots imported goods from China
ReplyDeleteAnd we have to strategize
DeleteIt's a global pandemic...meaning...it will affect all areas concerned
ReplyDeleteAbsolutely
DeleteWe only need to pray and ask God for his Mercy
ReplyDeleteAbsolutely.
DeleteThe virus has really led to increased negative impacts on human life.
ReplyDeleteMore so economy and it's a global epidemic.
DeleteThis will come to an end one day
ReplyDeleteUnless serious measures are taken
DeleteWe need such awareness
ReplyDeleteAnd we can make better use of it
DeleteChina is our second home 😸😸😺but for this no bargaining Wachina kwao kwao
ReplyDeleteBut they also need us to buy their goods.
Delete